Sony Group (NYSE:SONY) Rating Lowered to Buy at StockNews.com

Sony Group (NYSE:SONY) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other equities analysts have also issued reports on the company. TD Cowen lowered their price target on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Daiwa America raised Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Oppenheimer dropped their price target on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $24.00.

Sony Group Trading Up 1.3 %

Shares of NYSE SONY opened at $19.17 on Tuesday. The firm has a 50-day moving average of $14.98 and a 200 day moving average of $7.49. Sony Group has a 1 year low of $15.02 and a 1 year high of $20.67. The stock has a market cap of $115.93 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 11.69 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Institutional Investors Weigh In On Sony Group

Several institutional investors and hedge funds have recently modified their holdings of SONY. Pictet North America Advisors SA grew its holdings in shares of Sony Group by 19.4% in the third quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock valued at $23,561,000 after purchasing an additional 39,688 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Sony Group by 39.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock worth $9,993,000 after buying an additional 29,165 shares during the period. Ellsworth Advisors LLC bought a new position in Sony Group during the 2nd quarter worth about $1,413,000. Diversify Wealth Management LLC increased its holdings in Sony Group by 511.4% during the third quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock valued at $4,867,000 after buying an additional 42,156 shares during the period. Finally, Creative Planning increased its holdings in shares of Sony Group by 2.7% in the 2nd quarter. Creative Planning now owns 284,636 shares of the company’s stock valued at $24,180,000 after acquiring an additional 7,401 shares during the period. Institutional investors own 14.05% of the company’s stock.

About Sony Group

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.